ION Trading, a provider of software applications for trading on electronic fixed-income markets, has agreed to acquire Anvil Software Limited, a London-based firm that makes software for repo trading and securities lending.
“We are very pleased to announce ION’s strategic acquisition of Anvil Software,” says Andrea Pignataro, Chief Executive Officer and Founder of ION. “Working with Anvil we will be able to extend our product coverage to repo and securities lending and further enhances our global client support capability.”
“Joining forces with ION is good news for our clients,” adds Joe Nicholson, MD of Anvil Software, who will remain as MD of the acquired business and join the ION management team. “ION will bring its significant market presence and strategic direction to our business, and the market can expect more innovative technology solutions from the combined group.”
“This acquisition enhances ION’s position as one of the world’s leading third-party providers of trading solutions,” says Kenneth T. Schiciano, a Managing Director at private equity firm TA Associates and a member of ION’s Board of Directors. TA invested Euros 35 million ($44 million USD) in ION in June 2004.
Founded in 1999, ION Trading makes applications that aim to allow clients to integrate and manage trading activities in electronic fixed-income markets. ION is headquartered in Dublin with offices in London, New York, Tokyo, Madrid, Pisa, Frankfurt and New Delhi.
Founded in 1988, Anvil Software has offices in London, New York, Toronto, Sydney and Malta.